Ch 6: Entrepreneurship and Small Business

About This Chapter

Watch videos and learn about entrepreneurship and small business, including the benefits and risks of striking out on your own. Take the quizzes that follow each lesson to test your knowledge.

Entrepreneurship and Small Business - Chapter Summary and Learning Objectives

Entrepreneurs are individuals who are willing to take financial or other risks to start and run their own businesses. Famous entrepreneurs have included Thomas Edison, Henry Ford, Steve Jobs and Oprah Winfrey. In this chapter, your instructors will introduce you to the challenging and potentially rewarding world of entrepreneurship and small business, including its significance to the American and international economies.

They will discuss the important differences between large and small businesses, as well as the special challenges faced by the latter in the global marketplace. You'll also find out what steps are involved in becoming an entrepreneur and how these individuals make a difference in the American economy. When you've finished watching the videos and taking the self-assessment quizzes, you should be able to:

Understand what kind of candidates make good entrepreneurs

Recognize the differences between small and big businesses

Identify the reasons why some small businesses fail

Understand the challenges and rewards of entering the global marketplace

Know if you're ready to be an entrepreneur!

Video

Objective

What is an Entrepreneur? - Definition, Characteristics and Examples

Explain the reasons behind entrepreneurship and the attributes of successful entrepreneurs.

Small Businesses in the American Economy

Contrast small business with big business and then discuss the economic importance of small business.

Summary:

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